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Cardano: SundaeSwap decentralized exchange starts test network



The hype surrounding Cardano lived practically until September 2021 from the fact that the blockchain finally got smart contracts. But after the Alonzo update, the disillusionment came, because it became clear that a living DeFi ecosystem was still a long time coming.

Now, however, a first foretaste of what you want to offer in the future is being delivered. In cooperation with the team from IOHK , the developers at SundaeSwap will put their DEX through its paces in a test network. SundaeSwap should be able to offer a range of functions similar to that already known from Uniswap and other protocols.

However , the community has been mentally prepared for the fact that it will be a test in the end, which will most likely be bumpy. But the aim is also to do a lot better, because experience has shown that logs tend to be the target of exploits or simply contain other errors. Outside of a test site, this can have costly consequences for investors.

This cannot save the ADA course

The fact that Cardano is finally producing the first presentable results in terms of DeFi cannot change the bad situation of ADA. Bitcoin has landed on its belly and this time, unlike in May, there is no plausible event that could justify the crash. Instead, narratives pile up, which one may or may not follow depending on one's personal bias.

ADA is falling to around $ 1.26 and is getting closer and closer to the $ 1 mark. Historically, this has held up again and again in 2021 during various low phases and has not been significantly undercut in the daily chart since February.

It is currently not foreseeable that Cardano will be able to emancipate itself from the development of the overall market and the brisk sell-off. Therefore, all eyes will remain on the market's key currency and whether it will succeed in recovering.

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